Viracta Therapeutics Inc [VIRX] stock Initiated by RBC Capital Mkts analyst, price target now $10

Viracta Therapeutics Inc [NASDAQ: VIRX] traded at a low on 01/12/24, posting a -0.74 loss after which it closed the day’ session at $0.59. The company report on January 4, 2024 at 8:00 AM that Viracta Therapeutics Provides Clinical Update and Outlook for 2024.

Speed to market strategy for Nana-val in patients with relapsed or refractory EBV+ peripheral T-cell lymphoma supported by complete enrollment of Stage 1, complete enrollment of Stage 2 anticipated in Q1 2024 and engagement with the FDA on potential accelerated approval pathway by mid-2024.

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Enrollment underway into first split daily dosing cohort in Phase 1b/2 trial of Nana-val in patients with advanced EBV+ solid tumors; plans to determine recommended Phase 2 dose and initiate Phase 2 in 2024.

The results of the trading session contributed to over 51113 shares changing hands. Over the past one week, the price volatility of Viracta Therapeutics Inc stands at 6.66% while the volatility over the past one month is 9.41%.

The market cap for VIRX stock reached $22.92 million, with 38.35 million shares outstanding and 26.78 million shares in the current float. Compared to the average trading volume of 167.91K shares, VIRX reached a trading volume of 51113 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Viracta Therapeutics Inc [VIRX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VIRX shares is $7.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VIRX stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Viracta Therapeutics Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 01, 2022.

The Average True Range (ATR) for Viracta Therapeutics Inc is set at 0.05 The Price to Book ratio for the last quarter was 0.93, with the Price to Cash per share for the same quarter was set at 1.63.

How has VIRX stock performed recently?

Viracta Therapeutics Inc [VIRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.10. With this latest performance, VIRX shares gained by 26.17% in over the last four-week period, additionally sinking by -59.08% over the last 6 months – not to mention a drop of -68.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VIRX stock in for the last two-week period is set at 58.32, with the RSI for the last a single of trading hit 62.86, and the three-weeks RSI is set at 52.41 for Viracta Therapeutics Inc [VIRX]. The present Moving Average for the last 50 days of trading for this stock 0.5538, while it was recorded at 0.6015 for the last single week of trading, and 1.1146 for the last 200 days.

Viracta Therapeutics Inc [VIRX]: Deeper insight into the fundamentals

Viracta Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.77 and a Current Ratio set at 1.77.

Insider trade positions for Viracta Therapeutics Inc [VIRX]

The top three institutional holders of VIRX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in VIRX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in VIRX stock with ownership which is approximately 5.8325%.